Insight Focus

  • COVID restrictions continued to impact Chinese dairy consumption, but it should ease with time.
  • Chinese consumption still gained some support from the Mid-autumn festival and National Day holidays demand.
  • Supply concern due to heatwave and Christmas stocking supported EU and US dairy markets.

New Zealand

  • Anhydrous milk fat price has almost regained the loss from the bottom in August.
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USA

  • Despite supply concern in California state, US dairy product went down last week due to weak demand forecast impacted by interest rate hikes.
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Europe

  • European milk powder and butter prices took a breather after weeks of rally.
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